#198: From the Vault: Tax Obligations - 1099 Requirements

 Join Josh and Amelie to discuss everyone’s favorite…taxes! What are your obligations in sending 1099s to someone? Did you know that there may be requirements for you to send 1099s to someone?! Top takeaways: If you receive over $600 income through a third party (AdvicePay/Stripe/Paypal etc.), that third party will issue you a 1099 (though this has and will continue to change a lot). Double check 1099 numbers so they all line up correctly. If you pay someone/some company over $600 over the course of a year, you have to issue a 1099 to them UNLESS it is a corporation or if you pay by credit card (NOT debit card). Your deadline is January 30!!!! If you missed that…do it ASAP and be prepared to pay penalties. Want help building or growing a successful financial coaching business? Find resources below based on where you’re at in your journey: Deciding whether Financial Coaching is right for you? Join our free Facebook Community with over 5000 current and aspiring financial coaches! https://www.facebook.com/groups/financialcoachescommunity Already decided you’re going to be a Financial Coach and want to learn more? Get 30+ tips and best practices in our free 8-part email series! https://www.financialcoachesnetwork.com/pre-launch-email-series Ready to Launch your Financial Coaching business? Join FCN Launch, our step-by-step program that will help you successfully launch your business in four months and grow it to a consistent part-time income. https://www.financialcoachesnetwork.com/launch Looking for financial coaching software? Sign up for the interest list for FCN MoneyCoach, the premier cash flow analysis software for financial coaches and advisers. https://www.financialcoachesnetwork.com/money-coach Are you already coaching clients and want to grow your business to a full-time income? Join FCN Grow, our program that helps you scale your business to a full-time income. https://www.financialcoachesnetwork.com/grow